Warren Buffett's Advice to Young People Seeking Financial Independence

Warren Buffett has some advice for young people, like college students, who want to remain financially independent. It's not new and its not a surprise, but it is solid counsel on avoiding a very common money pitfall, and worth repeating:

"The biggest suggestion I have is to avoid credit cards. Interest rates are very high on credit cards. Sometimes they are 18 percent. Sometimes they are 20 percent. If I borrowed money at 18 or 20 percent, I’d be broke.... So if I had one piece of advice for young people generally it would be to just avoid credit cards."